Fed Hikes Rate Again and Plans to Unwind Balance Sheet; Should Diminish Gold Investment Demand
At its June meeting, the Fed raised the federal-funds target rate 25 basis points to 1% to 1.25%. In total, the central bank has increased the interest rate 50 basis points this year, thus far delivering two of the three increases it had forecast. The rate hike was largely expected, with market-implied probability of 99% the day prior to the announcement. In addition, the Fed announced plans to slowly unwind its nearly $5 trillion balance sheet of bonds built up through quantitative easing. Up t...Kinross Gold is engaged in the mining and processing of gold and, as a by-product, silver ore and the exploration for, and the acquisition of, gold bearing properties in the Americas, the Russian Federation, West Africa and worldwide. As of Dec 31 2013, Co.'s proven mineral reserves for gold and silver were 1,122 ounces and 1,179 ounces respectively.7,883 7,883 7,883
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